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The South African rand gained against the dollar in early trade as the US dollar dipped on less aggressive Fed rate hike expectations. The dollar index fell to 103.94 and the rand traded at 15.8150 per dollar.
The article's market tables show later-dated figures than its stated publication date.
A firmer rand lowers the local-currency cost of dollar-priced feed ingredients imported by South Africa, easing pressure on feed margins. The move is small and tied to rate expectations rather than a feed-specific shock.
brecorder.comReutersJun 28, 2022Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
